Sunday, May 3rd18.8°C
25936
24291

Husky to develop Newfoundland oilfield

Husky Oil Operations Ltd., a subsidiary of Husky Energy (TSX:HSE), has been approved to develop the South White Rose Extension project off Newfoundland.

The Canada-Newfoundland and Labrador Offshore Petroleum Board made the announcement today for the project that's expected to cost about $1.2 billion.

South White Rose is estimated to contain about 33 million barrels of oil that can be recovered using subsea flow lines connected to the SeaRose production vessel.

Husky spokeswoman Colleen McConnell says first oil is expected by the end of next year.

The offshore petroleum board says the province and Ottawa have ratified the board's approval.

McConnell says the first phase will start this summer with the installation of gas injection equipment at the site 350 kilometres east of St. John's.

The Canadian Press


Read more Business News

25990


Recent Trending




Today's Market
S&P TSX15339.77+115.25
S&P CDNX699.43+3.46
DJIA18024.06+183.54
Nasdaq5005.39+63.97
S&P 5002108.29+22.78
CDN Dollar0.8214-0.0008
Gold1174.50-4.90
Oil59.15-0.58
Lumber256.30-1.90
Natural Gas2.776+0.018

 
Okanagan Companies
Pacific Safety0.125+0.010
Knighthawk0.010.00
QHR Technologies Inc1.46-0.03
Cantex0.04+0.00
Anavex Life Sciences0.33+0.04
Metalex Ventures0.09+0.00
Russel Metals27.29-0.31
Copper Mountain Mining1.52+0.07
Colorado Resources0.10-0.00
ReliaBrand Inc0.004-0.001
Sunrise Resources Ltd0.04+0.00
Mission Ready Services0.215-0.005
Decisive Dividend Corporation1.85-0.15

 



25386

FEATURED Property
780345415 Commonwealth Rd.
1 bedrooms 1 baths
more details
image2image2image2
Click here to feature your property
Please wait... loading


Not the lawsuit type

If I asked you whether you were the lawsuit type, chances are that your answer would be a resounding “NO”. Most people cringe at the thought of being involved in a lawsuit and if you don&r...


The rules are changing

In recent years, a number of countries, including England, Australia and the United States, have changed the regulatory framework that governs their financial institutions. Included have been changes ...


Buy versus rent

Consider the top five reasons to buy versus rent: #5 Experience Freedom: Home ownership will free you from the ties that bind you to a landlord...no longer will you be dependent on someone else&rsq...

_








Member of BC Press Council


26253